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Chainlink forms bullish pattern at $8.22 with buybacks boosting confidence toward $9 target

Technical Signals
07 Aug 2026
Blockonomi
View Source
Bullish
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Chainlink (LINK) is trading steadily at $8.22, supported by a strong $8.00–$8.10 zone that hints at a bullish reversal through an inverse head-and-shoulders pattern. A breakout above $8.40–$8.50 could push LINK toward $9. Meanwhile, Chainlink's ongoing token buyback program has repurchased 5.211 million LINK worth $42.94 million, with steady weekly buys expected to continue through 2026. This combination of technical setup and supply-side support is drawing attention from traders looking for a potential price recovery.

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